US Treasury Secretary Henry Paulson is mulling whether to ask Congress for the next part of a controversial 700-billion-dollar financial bailout package, the Wall Street Journal reported Wednesday. The request for 350 billion dollars comes against a background of criticism over how the funds have been managed so far, the paper wrote. It noted that a congressional watchdog issued a critical report on Tuesday that said the Treasury's rescue program lacked transparency and needed stricter internal controls. If Paulson were to request the next installment, he likely would do so next week, the paper said on its website. And if market conditions deteriorate further, he would do so despite disagreements with lawmakers about how to use the funds. While Paulson favors directing the bailout money to financial institutions, Democrats in Congress want the package spread wider to help the ailing auto industry and homeowners facing foreclosure.
US Treasury Secretary Henry Paulson is mulling whether to ask Congress for the next part of a controversial 700-billion-dollar financial bailout package, the Wall Street Journal reported Wednesday.
The request for 350 billion dollars comes against a background of criticism over how the funds have been managed so far, the paper wrote.
It noted that a congressional watchdog issued a critical report on Tuesday that said the Treasury's rescue program lacked transparency and needed stricter internal controls.
If Paulson were to request the next installment, he likely would do so next week, the paper said on its website. And if market conditions deteriorate further, he would do so despite disagreements with lawmakers about how to use the funds.
While Paulson favors directing the bailout money to financial institutions, Democrats in Congress want the package spread wider to help the ailing auto industry and homeowners facing foreclosure.
Will he, won't he, will he, won't he, will he spend the TARP?
US Treasury Secretary Henry Paulson is mulling whether to ask Congress for the next part of a controversial 700-billion-dollar financial bailout package,
...and practicing control of his facial muscles for the next presser...
Must. Not. Burst. Out. Laughing.
let that gloating cackle out, go on, you'll feel a lot better.
such sheeple... candy from a baby
BWAH_ HA_HA!! IMPOTENT FOOLS, bow before me, maker and breaker of global economies, master of the universe. ~"When an inner situation is not made conscious, it appears outside as fate." Karl Jung~
http://www.fool.com/investing/international/2008/11/26/39-trillion-was-a-drop-in-the-bucket.aspx
Item Issuer Amount of Outlay
Commercial Paper Funding Facility Federal Reserve $1.8 trillion
Temporary Liquidity Guarantee Program FDIC $1.4 trillion
Term Auction Facility (TAF) Federal Reserve $900 billion
Fannie Mae (NYSE: FNM), Freddie Mac (NYSE: FRE), and Ginnie Mae U.S. Treasury / Federal Reserve $800 billion
Treasury Asset Relief Program (TARP) U.S. Treasury $700 billion
Total USD International Currency Swap Lines Federal Reserve $688 billion
Money Market Investor Funding Facility Federal Reserve $540 billion
Other Loans: Primary Dealer Credit, etc. Federal Reserve $288.7 billion
Citigroup (NYSE: C) Guarantee U.S. Treasury / FDIC $306 billion
Hope for Homeowners Act of 2008 U.S. Treasury $304 billion
Term Securities Lending Facility (TSLF) Federal Reserve $225 billion
Term Asset-Backed Securities
Loan Facility (TALF) U.S. Treasury $200 billion
Economic Stimulus Act of 2008 U.S. Treasury $168 billion
Paid to JPMorgan Chase (NYSE: JPM)
to Settle Lehman Brothers Debt Federal Reserve $138 billion
AIG (NYSE: AIG) Bailout Federal Reserve $112.5 billion
Bear Stearns Brokered Sale Federal Reserve $26.9 billion
I'm afraid to look ... Total: $8,597,100,000,000 Our knowledge has surpassed our wisdom. -Charu Saxena.
